Our Prime Minister’s visit to China during the last week has given a new dimension to the cooperation between the two countries. China has agreed to advance a credit of Rs 3.5 billions (around 50 million USD) over the next three years. “This agreement is of major significance to Mauritius,” said the PM, “as it marks China’s commitment towards Mauritius in this period?of?transition.”
The?PM?cherished?the?nearly trebled Chinese assistance compared to Rs 400 million (around 6 million USD) per year obtained previously.
This financial assistance will be vital in realizing a number of projects related to infrastructural development, which will include the construction of a fishing port, a new dam, a new link road from Verdun (village around the centre) to Terre Rouge (northern village near Port Louis) and a new town at Highlands (near the centre).
Other outcomes of the PM’s visit to the People’s Republic of China comprise promises for massive investment. Already one major group of companies, Shanxi Tianli Enterprises Group, has laid its footprints on the island with significant investment potential. The implantation of this group has necessitated the relocation of several small planters who earned their living for decades on the agricultural plot of land identified for allocation to the group.
In this period of difficult economic situation, with rising cost of living, opportunities like those from China and the discovery of potential hydrothermal sources in the territorial waters of Mauritius (which I mentioned yesterday) can only herald better days ahead. Provided they are managed judiciously.